Debt-laden craft beer maker B9 Beverages, the maker of the popular Bira 91 brand, may generate ‘immediate cash’ through the sale of one of its assets, founder Ankur Jain informed employees on Thursday. The proposed move is aimed at clearing pending salaries, provident fund (PF) dues, and supporting the resumption of operations, though investors have expressed concerns about the plan, ET reported.
Founder proposes asset sale to inject immediate cash
In a letter to employees, Jain wrote that the company had submitted the proposal to key lenders and shareholders and is “hopeful of timely consent.” The letter did not specify the asset being considered for sale.
Some investors questioned the transparency of the process. “We don’t even know who the buyer is…is there a firm offer or term sheet?” a senior executive told ET.
B9 Beverages’ key shareholders and lenders include Japan’s Kirin Holdings, Anicut Capital, and Peak XV. The company has identified “various avenues to resolve dues for employees and recovery of business, including the sale of certain non-core assets,” Jain added.
Mounting losses and halted production
The company has faced a prolonged crisis, with production halted since July 2025 and more than 250 employees petitioning the board and shareholders last month to remove Jain. As per news reports, employees had also written to the government over the unpaid salaries across six months, along with arrears, reimbursements and pending TDS for 50+ employees for FY24.
B9 Beverages reported a net loss of Rs 748 crore in FY24, exceeding its total revenue of Rs 638 crore, as volume sales fell to 6–7 million cases. The company has yet to file FY25 results.
According to Jain’s letter, the proposed asset sale would prioritise PF dues and payroll for the bottom 50% of employees, including ex-employees, while supporting the resumption of business in key markets.